A Dubai-based British hedge fund dealer accused of orchestrating a $1.7bn (£1.34bn) tax fraud has been extradited to Denmark.
Financier Sanjay Shah was convicted in May within the United Arab Emirates of masterminding a scheme wherein overseas companies pretended to personal shares in Danish firms and claimed tax refunds for which they weren’t eligible.
The alleged fraudulent scheme ran from 2012 to 2015.
Danish taxation minister Jeppe Bruus mentioned: “It goes without saying that we as a society cannot accept that our state treasury is exposed to it.”
He referred to as it “one of the biggest criminal fraud cases in Danish history”.
Foreign minister Lars Lokke Rasmussen added Denmark was “sending an important signal that you cannot achieve impunity by staying abroad”.
Shah’s British lawyer, Chris Waters, advised Danish broadcaster TV2 that his shopper denies any wrongdoing and “continues to doubt that he can receive a fair trial in Denmark”.
His Danish lawyer, Kare Pihlmann, advised TV2 they wanted to learn the case file of greater than 300,000 pages earlier than deciding on their line of defence.
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On Wednesday, Danish law enforcement officials travelled to Dubai to choose up Shah, officers mentioned.
Once on Danish soil, he’ll formally be arrested and Denmark’s prosecution authority will request he’s remanded in custody.
A trial in Copenhagen has been set for 8 January.